Freeport-McMoRan Inc. stock research
FY2025 Q2
Freeport-McMoRan (FCX) Gross Margin — Quarter Ended Jun 30, 2025
In the current quarter, revenue and gross profit both increased compared to the prior quarter and the same quarter a year ago, with gross profit rising more proportionally, leading to a higher gross margin. The gross margin improved sequentially and year-over-year.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
In the current quarter, revenue and gross profit both increased compared to the prior quarter and the same quarter a year ago, with gross profit rising more proportionally, leading to a higher gross margin. The gross margin improved sequentially and year-over-year.
- The strongest observable margin driver was the increase in gross profit relative to revenue, indicating an improved conversion of sales into profit.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin all increased. Compared to the same quarter last year, the same metrics also improved, with gross margin higher than both periods.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
34.2%
Gross profit
$2.6B
Revenue
$7.5B
Cost of revenue
$5.0B
Quarter-over-quarter change
+10.0 pts
Year-over-year change
+2.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $6.7B | $2.0B | $4.7B | 30.0% |
| Dec 31, 2024 | $5.9B | $1.6B | $4.3B | 27.0% |
| Mar 31, 2025 | $5.6B | $1.4B | $4.2B | 24.3% |
| Jun 30, 2025 | $7.5B | $2.6B | $5.0B | 34.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+10.0 pts
Year-over-year change
Jun 30, 2024
+2.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver was the increase in gross profit relative to revenue, indicating an improved conversion of sales into profit.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin all increased. Compared to the same quarter last year, the same metrics also improved, with gross margin higher than both periods.
Monitor the trend in cost of revenue, as its absolute increase alongside margin improvement warrants attention for sustainability.